"Over the last five years, the EIB has provided nearly €12 billion to improve broadband and telecommunications across Europe. We are pleased to support Gigaclear’s activities in our first targeted support for rural communications in the UK."

Matthew Hare, Chief Executive of Gigaclear, added that the infrastructure upgrades will give people access to the fastest internet speeds "to be found anywhere in the world".

This, he stated, will technologically future-proof communities in rural areas for many years to come.

Mr Hare went on to state that by using pure fibre, Gigaclear is not simply connecting rural communities, but instead helping them "leapfrog a whole generation of technology".

Gigaclear has estimated that up to 1.5 million properties across the UK could benefit from its services. As a result, it believes this loan represents a "landmark moment" in its expansion strategy and offers an exciting proposition to communities that have - until now - "suffered from woeful internet speeds".

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